RetailMeNot co-founder Guy King has much to be thankful for this holiday season. In early December, he and co-founder Bevan Clark sold the online coupon directory to WhaleShark Media for a reported US$90 million. The business was launched four years ago with only $30.00 in startup funding.
That may seem like a lot of money to pay for a coupon site. But RetailMeNot will generate about $30 million in 2010 revenue and the business model is extremely lean (employing about five people), which means that almost all of this revenue is profit.
Anthill’s James Tuckerman caught up with King in the studios of Media Saints shortly before the 2010 Christmas break to talk about RetailMeNot, the sale price and Groupon-mania.